Hycroft Mining Holding Corporation (NASDAQ:HYMC) ("Hycroft" or "the Company"), a gold and silver development company that owns the Hycroft Mine in the prolific mining region of Northern Nevada, announces results for the Metallurgical Flotation Variability Study (the "Study").
After comprehensive third-party laboratory testing, the Study confirms average flotation recoveries of 89% for gold and 93% for silver, increasing from 80% for both gold and silver in the March 2023 Technical Report1. The increased recoveries were due to modifications to the grind size, reagents and retention time. The results reflect a 20% mass pull into a sulfide concentrate containing 8.5% sulfide sulfur. The variance of the recoveries was +/- 4%.
With this phase of the metallurgical test work completed, the bench-top autoclave testwork ("BTAC") has been initiated with results expected in the fourth quarter. The results of the flotation and BTAC metallurgical work will be used to design the Hycroft processing facility for the next phase of commercial operations.
"We are extremely pleased with these results because they clearly demonstrate that we can achieve significant gold and silver recoveries from Hycroft's sulfide ore," commented Diane R. Garrett, President and CEO of Hycroft. "The gold and silver flotation recovery results averaged approximately 10% higher than previously modeled with improved flotation consistency across all geologic domains within the projected mine plan.
"This is the culmination of two years of meticulous metallurgical analysis, a critically important step in de-risking the project as we finalize the prefeasibility study. In addition, the ongoing exploration program is providing evidence of higher grades, better continuity, and the conversion of waste and inferred resources to measured or indicated resources, which is anticipated to enhance the economics of the first 10 years of the mine plan. Together these programs are delivering the results necessary to move Hycroft up the value chain."